For married couples to consider, three laddered term life insurance policies

While I have no need for the product, one of my trusted advisors suggested this might be worthwhile for a married couple under the age of 40.

What it involves is purchasing at the same time three separate term life policies. The first is a 10 year policy. The second is a 20 year policy. The third is a 30 year policy. By laddering the policies, you remove some of the advantage the insurer has over pitching the product to you.

The main reason you have the overlapping coverage is god forbid a spouse dies at a young age. The surviving spouse will be able to survive. As you both get older, the need for the money decreases because they have likely accumulated sufficient wealth during their lifetimes.

The real trick is finding an insurer that is honest. I've already talked about two who are dishonest.

Life insurance is designed either for wealth preservation or to keep the surviving spouse comfortable. It is not meant for investing purposes and you don't need the other attachment riders they want to sell you.